by anthonycaliendo
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15 Things to Consider BEFORE You Decide to Sell Your Small Business

• Is it time to sell your small business?

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• Once on the market, it is common to take 6-11 months to sell, according to BizBuySell's Insight Report. https://www.inc.com/bob-house/how-long-it-actually-takes-to-sell-a-small-business.html?

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• Choose your timing and sell your business when you can get the best price, you have the time to sell and the economy is on an upswing.

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• Consult a tax attorney for the ideal options on when and how to sell your business.

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• Invest in valuing your company How to value your business: https://www.inc.com/john-warrillow/how-to-value-your-business.html

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• Use a third-party to engage buyers to maintain your confidentiality such as a business broker or an M&A advisor.

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• Present your financials to show your financial history and growth potential.

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• Focus on the deal, not the price. Consider tax implications, intangibles, and non-financial compensation.

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• Use a NDA Non-Disclosure Agreements to help protect your confidentiality.

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• Be prepared to explain WHY you're selling your business. Most buyers will ask.

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• Research your prospective buyer so you know who you're doing business with.

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• Determine your buyer's motives and priorities and why they want to buy your business.

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• Remember a family sale is also a business transaction.

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• Be specific about what you are selling - and what you AREN'T selling.

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• Have a management team in place so you are selling a working business, not one that is dependent on your presence.

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• Write an exit strategy so you have a roadmap to follow for before, during and after the sale of your business, and nothing gets overlooked or forgotten during negotiations.

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• The Sales Assassin: Master Your Black Belt in Sales - My international best-selling sales book https://www.amazon.com/dp/B016X3PBH4/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

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• Everyone in your company is a salesperson: especially YOU! Don\'t just be a salesman: Be A SALES ASSASSIN

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